Underwriting is the process that financial service providers use to determine eligibility of their costumers to receive their products (equity capital, insurance, mortgage or credit). Currently, the underwriting process may be described almost entirely as a manual process. Trained individuals, or underwriters, traditionally perform the underwriting process. The underwriting process may be very time-consuming and may involve the analysis of a plurality of underwriting standards set by a financial institution. Furthermore, the underwriting process may be biased by the judgment of the underwriter. Variation in factors such as underwriter training, experience, and quality of previous assessments may cause underwriters to make different decisions and judgments. As a result, there can be a large amount of variability and inconsistencies in the insurance underwriting process. Therefore, there is a need to improve conventional underwriting methods.